Traders in Asia will assesses monthly consumer price index figures out of Australia, set to be released later in the day.
out of Australia. Monthly consumer price index figures rose 2.1% in October year on year, missing the 2.3% expected by economists polled by Reuters.The figure was inline with the rise in the month of September, and down significantly from the 5.6% registered in September 2023.In the U.S. on Tuesday, the blue-chip Dow advanced 123.74 points, or 0.28%, to a record close of 44,860.31, while the S&P 500 added 0.57% to a record 6,021.63.
Peter Boockvar, chief investment officer at the U.S.-headquartered Bleakley Financial Group, revealed his take on the tariffs, as well as sectors — and stocks — he is watching globally.The economic outlook next year will depend more on tariffs than on tax cuts, according to Gregory Daco, chief economist at EY-Parthenon.
But the extent to which tariffs proposed by President-elect Trump will be implemented in the coming year remains an overhang on the economic forecast, and has greater weight than any changes to tax policy. "If I tell you that your taxes are not changing in 2026, your reaction to that is going to be very different than if I tell you that your taxes are going lower in 2026. And I think that's a big misconception in terms of the potential boost to economic activity from the Tax Cuts and Jobs Act," Daco continued."If it expires, it weighs on the economy by about 1%. If it doesn't expire, it has essentially no effect. You don't get that drag, but it has no positive effect.
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